Have you ever considered what would happen to the future viability of your business if a key member of staff or a fellow business partner or shareholder was to die? Not only may you have lost a close friend, but you must also nowdeal with some potentially serious financial dilemmas. Apart from the loss of business expertise which might have to bought in, would the business need to buy out the legal representatives of a deceased business owner because of contractual arrangements through a pre-existing Buy & Sell Agreement?
It’s not just the business owners that are at risk, it’s the business itself. Most businesses have certain key individuals with specific skill sets, without whom the business’s profits could fall. The loss through death or critical illness of such a key person could be very financially damaging to the business.
Both of these type of risks can be insured by the business as a form of life assurance or similar covers. If you wish to discuss Business Buyback Cover or Key Person Cover you can ring us directly on 01-8455827 (+353 1 8455827 for international enquiries) or email us at firstname.lastname@example.org